NVIDIA edges closer to becoming world’s most valuable company

Quick Take
On June 5, 2024, the Nasdaq and S&P 500 reached unprecedented heights, closing at 19,035 and 5,354, respectively. However, the standout story of the year has been NVIDIA’s phenomenal performance. NVIDIA’s stock has surged by 154% year-to-date and an astonishing 3,200% over the past five years.
SPX, Nasdaq, NVIDIA: 2019-2024: (Source: TradingView)
June 5 marked a significant milestone as NVIDIA’s market capitalization soared to $3 trillion, placing it in the elite company of Apple and Microsoft. NVIDIA also surpassed Apple in market cap, closing at $3.011 trillion. NVIDIA is roughly 5% shy of Microsoft’s $3.151 trillion valuation, which would make it the biggest company in the world.
To contextualize NVIDIA’s meteoric rise, consider Bitcoin, which currently holds a market cap of $1.4 trillion. If Bitcoin were to reach a $3 trillion market cap, each coin would be valued at approximately $150,000.

Rank
Name
Market Cap
Price
Today
Country

1
Gold
$16.027 T
$2,387
0.47%
USA

2
Microsoft
$3.151 T
$424.01
1.91%
USA

3
NVIDIA
$3.011 T
$1,224
5.16%
USA

4
Apple
$3.003 T
$195.87
0.78%
USA

5
Alphabet (Google)
$2.177 T
$177.07
1.11%
USA

6
Amazon
$1.886 T
$181.28
1.08%
USA

7
Saudi Aramco
$1.837 T
$7.59
0.89%
S. Arabia

8
Silver
$1.717 T
$30.51
1.45%
USA

9
Bitcoin
$1.398 T
$70,946
-0.31%

10
Meta Platforms (Facebook)
$1.255 T
$495.06
3.79%
USA

Source: companiesmarketcap.com
 
 
 
 
 
 
The post NVIDIA edges closer to becoming world’s most valuable company appeared first on CryptoSlate.